Global Nanobiotechnology Market to Reach $6.0 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Nanobiotechnology markets. Global market for Nanobiotechnology is projected to reach US$6.0 billion by the year 2017. Growth will be primarily driven by rising levels of government participation in R&D funding especially in developing countries, increasing role played by private venture capitalists, and technology advancements.

Nanobiotechnology: A Global Strategic Business Report

San Jose, CaA (PRWEB)March 28, 2012

Follow us on LinkedIn – Following the nanotechnology revolution in the communication, and information technology industry, which led to the pragmatic integration of millions of electronic components onto tiny surfaces measuring in nanometers (NM), nanobiotechnology is all set to be the next battlefield with ambitious nanobiotech research firms keen on developing tools to analyze the ultimate tiny biological sample i.e. a single molecule. As nanotechnology’s fastest growing sector, nanobiotechnology is poised for rapid growth especially in the field of targeted drug delivery therapies in the oncology sector. Nanooncology, defined as the application of nanobiotechnology in treatment of cancer, is therefore forecast to grow in popularity, encouraged by developments in the use of gold nanoparticles and quantum dots in molecular diagnosis of cancer, new discovery of cancer biomarkers and developments in nanobiosensors and the ensuing advancements in successful identification of sensitive multiple protein biomarkers. Areas forecast to witness the maximum action in terms of R&D investments include development of nanoparticle-based chemotherapeutic agents/drugs, monoclonal antibody nanoparticle complexes and their role in diagnosis and cancer drug delivery, and nanoparticle-based optical imaging of tumors.

The commercial applications of nanobiotechnology in biomedical field are principally directed towards development of novel drug delivery systems, and the trend is likely to remain intact for several years to come. Biotechnology and pharmaceutical industries have and will continue to remain the largest users of nanobiotechnology. Drug delivery, being the most crucial pharmaceutical application, is the most focused area in nanobiotechnology. Besides providing an answer to solubility issues, nanobiotechnology also offers intracellular delivery possibilities. The technology also enhances the level of skin penetration in transdermal drug delivery cases. Another particularly valuable application of nanobiotechnology is nonviral gene therapy vectors. Nanotechnology also has the capability to offer “controlled release” devices featuring autonomous operation directed by particular needs. The technology also holds the potential to develop breakthrough interface systems between physical objects and living cells to allow interaction of modern electronic devices with biological systems. Years of extensive research and development in nanobiotechnology is now beginning to create new avenues for synthesis of cutting edge nanofabricated systems and devices for treating several acute ailments. Microfabrication is widely gaining acceptance as a potential process to develop miniature biological systems.

With nanobiotechnology emerging from the realm of pure research to be a more real world application driven technology, biotech companies, which hitherto exhibited hesitant unwillingness to invest in this hugely capital intensive, high risk, unexplored, and uncharted territory, are now showing keen interest in tapping into this space. As the most important technology of the 21st century with numerous new important applications in medicine, nanobiotechnology is poised for an indefinite period of healthy growth.

The European debt crisis and the surrounding fears over its playout have until now failed to impact the nanotechnology industry. Investments in R&D, order influx, production and sales continue to post encouraging growth despite the challenges related to availability of financing and capital funds. While several industries begin to feel the withdrawal symptoms of the austerity packages enforced in debt afflicted economies, the nanotechnology and related technology industries have continued to hold up. In other words, the broader uncertainties induced by the crisis has had a limited impact on R&D so far, given that cutting edge areas of science remain as one of the privileged areas in an economy German companies remain especially optimistic about future business outcomes than companies in other EU countries.

The European market is expected to hold on steady, primarily supported by the determination of players in this space to stay on the cutting edge despite the debt crisis and an uncertain economy. Companies, especially in high-end, expensive, advanced technology markets like nanotechnology are responding differently to the crisis as compared to the 2007-2009 recession, which witnessed significant drops in investments. This time around, companies in Europe are keen on retaining their focus on research and development, guided by the growing realization of the fact that competitors especially from developing Asian countries are coming in stronger as a result of globalization. The scale of innovation therefore needs to be maintained if claim to new riches in untapped market sectors needs to be successful. While political leaders continue to search for a solution for Europe’s predicament, the future remains largely uncertain and the potential outcomes of the crisis remain numerous. For instance, the hitherto witnessed cautious relief and relative optimism may ebb out. Currently, however, the outlook remains hopeful.

As stated by the new market research report on Nanobiotechnology, United States represents the largest market worldwide. The race to crack open the promises and potential of nanobiotechnology is tightening, with other economies around the world closing in on the US with the same fervor in investment commitments. Developed economies of United States, EU, and Japan, which hitherto dominated all nanotechnology R&D spending, will now witness the emergence of developing countries as strong potential laden players in the field of nanotechnology. Future growth, under this scenario, will be turbocharged by developing countries in Asia-Pacific. Asia-Pacific, Latin America, and Middle East are forecast to grow at a CAGR of 25.3%, over the analysis period.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.